So What’s Zynga Going To Do With All Its Cash?

David Ko, Zynga chief mobile officer, speaks at an event in San Francisco in October. The company should have plenty of cash to pursue potential mobile-gaming acquisitions.

With bulging pockets and big hopes to extend its empire beyond social networks, Zynga may soon be flashing new IPO proceeds to acquire mobile gaming start-ups.

The four-year-old game developer rang up nearly $1 billion in annual revenue last year creating (and endlessly tweaking) games on Facebook.

But, with Facebook taking a 1/3 cut of Zynga revenue and mobile now the fastest growing segment of the gaming market–Gartner expects it to exceed $11.4 billion by 2014—Zynga execs may well decide that bulking up on mobile talent is just the muscle it needs to become the kingpin of gaming’s next frontier.